Wadia Group’s budget airlines GoFirst has declared itself bankrupt.Image Credit source: File Photo
The budget airlines of the Wadia Group, one of the oldest industrial houses in the country go first After the Corona period, it is the first company in the aviation sector which has declared itself bankrupt. But this decision of Go First is shocking because Wadia Group has Britannia Industries And Bombay Dyeing As are the shining brands. At the same time last year, the company handed over the command of sinking Go First to Varun Barry, who made Britannia a profitable food business. Why didn’t Go First survive?
After Corona, the condition of all airlines is bad, SpiceJet is also facing bad times, but now in bankruptcy. Go First is First.
Varun Barry took command in October
Varun Barry, a long-time associate and confidant of the Wadia family, was given the command of GoFirst in October last year. The Wadia Group made him the chairman of the company and entrusted him with the responsibility of reviving GoFirst. Varun Barry has the experience of making Britannia a profitable food company, bringing Bombay Dyeing back to the top. Then where did you go wrong with Go First…?
To understand this, we have to know the history of ‘Go First’ which was earlier ‘Go Air’ more than Varun Barry’s ability. By the way, let us tell you that Go First has told the biggest reason for its bankruptcy is the bad engines of ‘Pratt and Whitney’. Because of these engines, 30 of GoFirst’s fleet of 61 aircraft are not capable of flying.
Drowned while drowning Go First
GoFirst was started in 2005 by Jeh Wadia, son of Nusli Wadia. This was the period when Kingfisher Airlines was shining in the country. Currently absconding industrialist Vijay Mallya had made it a glamorous business. However, later Kingfisher was closed.
When Jeh Wadia started the airlines, he did not make any strong plan to run it, because it was just another business for the Wadia group. On the contrary, airlines were the priority business of IndiGo, which started the very next year, and as a result, today IndiGo is the largest airline in the country and occupies 57 percent of the market.
On the other hand, the person who started it, Jeh Wadia, was removed from the board of all the companies of the group by the Wadia Group in 2021 and also freed from the responsibility of the airlines. Jeh Wadia lives in London these days.
(This news is being updated)